Accel Entertainment (ACEL) Q2 2026 earnings summary

Executive summary

• Achieved record quarterly revenue of $368.1 million in Q2 2026, up 10% year-over-year, with net income rising 72% to $13 million and adjusted EBITDA increasing 11% to $59 million, driven by growth in Illinois, Nebraska, and Georgia.

• Ended Q2 2026 with 4,676 locations and 29,281 gaming terminals, up 6% and 7% year-over-year, respectively.

• Leadership transition announced: Mark Phelan to become CEO, Andy Rubenstein to remain Chairman.

• Expanded presence through acquisitions and entry into new markets, including casino and horse racing operations.

• Focused on scalable logistics, risk management through diversification, and long-term partnerships.

Financial highlights

• Net gaming revenue for Q2 2026 was $347.4 million, with total net revenues reaching $368.1 million, and operating income up to $32.1 million.

• Adjusted EBITDA for Q2 2026 was $58.9 million, up from $53.2 million in Q2 2025.

• Free cash flow for Q2 2026 was $9.6 million, impacted by a $17 million tax credit purchase.

• Cash and cash equivalents stood at $255 million as of June 30, 2026; net debt was $318 million.

• Repurchased 500,000 shares for $5.6 million in Q2 2026; $18 million in repurchases for the first half of the year.

Outlook and guidance

• Capital expenditures for 2026 are anticipated to be $60–$70 million, mostly for replacement equipment.

• Chicago market opening expected soon, with significant long-term growth potential.

• Developing markets like Nebraska and Georgia are expected to drive future earnings growth.

• Management expects sufficient liquidity from cash, operations, and credit to meet capital needs for the next 12 months and beyond.

• Strategic investments in technology, acquisitions, and new market entries expected to drive future upside.